In the assignment for Week 5, you completed the four must-have documents: a will, living revocable trust, advanced directive, and durable power of attorney for health care.
Congratulations! You have done something unfortunately too few people take the time to do, yet something that is absolutely essential to your ability to protect yourself and your family. If you have not already done so, take a moment to give yourself a pat on the back. You deserve it! Now it is time to talk about what you have done.
Answer the following questions about the must-have documents. Each response should be 50–150 words in length.Purpose of Documents 1. What is the purpose of a will? The purpose of a will is to make it known exactly how you want your affairs taken care of after you have passed. Those affairs could be anything such as your property, money, or children. A will helps to make sure things are carried out correctly and hurried.
2. What is the purpose of a living revocable trust? A revocable trust is a document that is drawn up for an individual while they are alive as to how they would like for their stuff to be handled when they have decessed or are incompacitated for any reason.This is a very important paper for the fact that this can be changed whenever the owner wants to change it without penalty or charge. They are allowed to update this as often as needed.
3. What is the purpose of an advanced directive and durable power of attorney for health care? An advanced directive is a document that you have already had drawn up to let your health care providers exactly what your level of medical needs and wants are. A durable power of attorney is anyone that you decide that you would like to speak for you in the event that you are incapacitated.Document Information and Completing Documents 4.
What sorts of information were you required to supply to complete the must-have documents? Which of the information was most difficult to find? Why? You only needed basic information to fill out the paper work for the documents. So if you are close with your family and or friends then these won’t be hard too fill out at all. The hard part for me was not getting the information but figuring out just who I wanted to carry out what and how I would get everything done in the best way as to not hurt anyones feelings.5. What other difficulties did you run into as you worked through creating the must-have documents? How did you overcome them? As I said before the only real hard part of this assignment was that I had to figure out who was going to do what and just how I’d get them to accept their roll in this. I haven’t gotten around to asking anyone these things yet as ive always put this off as not to upset anyone. Protecting Your Family 6. How does having the must-have documents in place help protect you and your family?Be specific.
These documents are an essential thing for us as adults to have in place for those unexpected times and injuries or deaths that come to soon in life. It’s so helpful to already have these in place so that your care and well being will be looked out for if you’re only hurt or if you’re in a situation that is life threatening you’ll have someone that will take your best intreast to heart and carry out what you want and need for your family.